Luke Hendersonhardware, PS5

The PlayStation 5 is going to cost more soon, Sony claims it's inflation related

Luke Hendersonhardware, PS5
The PlayStation 5 is going to cost more soon, Sony claims it's inflation related

In a move that can only be described as out of touch, Sony Interactive Entertainment have announced that the price of the PlayStation 5, both the disc model and the digital only, are set to increase everywhere, well except the USA.

In a statement posted to the PlayStation Blog, President & CEO, Sony Interactive Entertainment Jim Ryan explained why the price is going up.

The global economic environment is a challenge that many of you around the world are no doubt experiencing. We’re seeing high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressure on many industries. Based on these challenging economic conditions, SIE has made the difficult decision to increase the recommended retail price (RRP) of PlayStation 5 in select markets across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), Latin America (LATAM), as well as Canada. There will be no price increase in the United States.

While this price increase is a necessity given the current global economic environment and its impact on SIE’s business, our top priority continues to be improving the PS5 supply situation so that as many players as possible can experience everything that PS5 offers and what’s still to come.

Thank you for your continued support.

So they are claiming that costs are going up across the board, so the cost of the PlayStation 5 must go up as well. By how much you ask, well $50 on both models, which means that these are the new prices:

  • PS5 with Ultra HD Blu-ray disc drive – $799.95

  • PS5 Digital Edition – $649.95

Given Sony made Six Billion, that is $6,000,000,000 Australian dollars in sales, for the first quarter of this fiscal year, they are clearly not strapped for cash.

I own my PlayStation 5, I have done since launch day, but this is a gross decision and while for someone like me a $50 increase is not a huge issue, for some that could be the difference between getting one in time for Christmas and getting it in the new year.